21 Jun 2019
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Yoram Dvash: Demand for e-commerce is growing
He expressed views at a symposium on e-commerce
By: Diamond World News Service
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Jan 20 2017 3:14PM
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Reference: 13819  

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Image Courtesy: IDE
Image Courtesy: IDE
President of the Israel Diamond Exchange Yoram Dvash expressed views on online trading at a symposium on e-commerce organised at the Israel Precious Stones and Diamonds Exchange. The event was held by the Israel Diamond Institute (IDI) and the Get-Diamonds team at the Israel Precious Stones and Diamonds Exchange in the presence of IDE President Yoram Dvash, IDI Chairman Shmuel Schnitzer, Attorney Eli Shimoni and the staff of the IDI's Get-Diamonds trading system.

The seminar dealt with several issues including choosing marketing channels, the optimal way to present diamonds, reliability, visibility, legal aspects and more.

Yoram Dvash said, "Get-Diamonds is a new venture and its international launch was done at the last Hong Kong and JCK show s. The system already has thousands of customers who have registered, and more than 90,000 diamonds offered for sale on the site. The demand for e-commerce is growing and physical stores are being closed because of this. This is the future. Operate the system and it will be a success."

IDI Chairman, Shmuel Schnitzer, said, "The IDI invests heavily in Internet marketing, in the knowledge that is the marketing technique of tomorrow.”

Attorney Eli Shimony, who lectured at the seminar, stressed on the need to have ‘enough supply, and a range of supply’ to be successful in online trading. He further added that ‘global online trade is growing at 15 percent annually, and there's room for more development.’ In his opinion, diamond and jewellery sales must maintain confidence, particularly when it comes to an expensive product like diamonds and merchants must adjust the product according to what clients want.’

Attorney Eli Shimony further said, “Another important thing to note is the visibility of the product, especially when it comes to diamonds and jewellery. Online trading requires a large initial investment, but compared to opening a physical store this is a very small investment. Online trading also requires patience. Even sites like Amazon and eBay started small and grew and came to what they are today."

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